Kpit Cummins to raise $2.5 mn

Kpit Cummins Infosystems Ltd said on Tuesday that it will raise $2.50 million from International Finance Corporation (IFC), Washington through issue of 3.11 lakh equity shares on preferential basis.

The board of directors have approved the issue of 3.11 lakh equity shares of the company to IFC, Washington at a price of Rs 356 per share of Rs 5 each, subject to regulatory approval, the company informed the Bombay Stock Exchange.

The company would convene an extraordinary general meeting of the shareholders on April 08, to take necessary approvals on the issue, it said.